DENVER, Aug. 21, 2020 /PRNewswire/ - GrowGeneration
Corp. (NASDAQ: GRWG), ("GrowGen" or the "Company"), the
largest chain of specialty hydroponic and organic garden centers
with 28 locations, today announced that it believes it has
uncovered fraudulent attempts to manipulate the Company's
stock.
On August 21, 2020, an
organization calling itself "Hindenburg Research" published false
and defamatory statements about certain Officers and Directors of
the Company designed to provide a false impression to investors and
to manipulate the market to benefit short sellers.
GrowGen intends to collaborate with law enforcement and
regulators to ensure that any criminal activity is investigated and
prosecuted. GrowGen will be taking steps to ensure that the
organization ceases and desists from all illegal and otherwise
wrongful activity. GrowGen will vigorously defend the value of the
Company on behalf of shareholders and investors.
About GrowGeneration Corp.:
GrowGen owns and operates specialty retail hydroponic and
organic gardening stores. Currently, GrowGen has 28 stores, which
include 5 locations in Colorado, 6
locations in California, 2
locations in Nevada, 1 location in
Washington, 4 locations in
Michigan, 1 location in
Rhode Island, 4 locations in
Oklahoma, 1 location in
Oregon, 3 locations in
Maine and 1 location in
Florida. GrowGen also operates an
online superstore for cultivators, located at www.growgen.pro and
www.growgeneration.com. GrowGen carries and sells thousands of
products, including organic nutrients and soils, advanced lighting
technology and state of the art hydroponic equipment to be used
indoors and outdoors by commercial and home growers. Our mission is
to own and operate GrowGeneration branded stores in all the major
states in the US and Canada.
Management estimates that roughly 1,000 hydroponic stores are in
operation in the US. By 2025, the global hydroponics system market
is estimated to reach approximately $16
billion.
Forward Looking Statements:
This press release may include predictions, estimates or other
information that might be considered forward-looking within the
meaning of applicable securities laws. While these forward-looking
statements represent our current judgments, they are subject to
risks and uncertainties that could cause actual results to differ
materially. You are cautioned not to place undue reliance on these
forward-looking statements, which reflect our opinions only as of
the date of this release. Please keep in mind that we are not
obligating ourselves to revise or publicly release the results of
any revision to these forward-looking statements in light of new
information or future events. When used herein, words such as "look
forward," "believe," "continue," "building," or variations of such
words and similar expressions are intended to identify
forward-looking statements. Factors that could cause actual results
to differ materially from those contemplated in any forward-looking
statements made by us herein are often discussed in filings we make
with the United States Securities and Exchange Commission,
available at: www.sec.gov, and on our website, at:
www.growgeneration.com.
Connect:
- Website: www.GrowGeneration.com
- E-commerce: https://www.growgen.pro/
- Instagram: growgen
- Facebook: GrowGenerationCorp
- Twitter: @GrowGenOK
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SOURCE GrowGeneration